Understanding how quickly regulation can impact the market, and responding to it, “probably the biggest challenge that this industry has faced”, according to Richard Street of RBC I&TS.
Street said that the real key is “an early warning”, and says that RBC I&TS partners with Thomson Reuters to “enhance our regulatory news and analysis that we provide to our clients”.
Beyond data trends, asset managers “increasingly need to be able to demonstrate to regulators and their clients that there is full transparency and appropriate oversight of outsourced relationships”, said Street.
He advised: “Asset servicing providers can support this by providing data and dashboards, highlighting exceptions and where attention should be directed.”
When considering regulation, Street said understanding tends to be an iterative process with clients growing their understanding through discussions in the industry and by working with their asset servicing provider.
To read the full interview with Street, check out our latest issue.
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